x

75% of people globally want unbiased news (Pew Research) but are concerned they're not getting that.

Get balanced coverage with Symby. See how stories are covered across diverse outlets and spot when one side covers a story the other skips.

PODCAST

The NAVigator

Active Investment Company Alliance

The NAVigator, from the Active Investment Company Alliance (AICA), talks all-weather investing and "excellence beyond indexing" through the use of closed-end funds (CEFs) & business-development companies (BDCs). AICA – a new organization that includes a diverse constituency that runs from investors through fund sponsors – aims to help investors & advisors plot a new and different course to financial success, via the tactical use of securities that mix active management within listed & non-listed

business investing

All Episodes

12:03

Kayne Anderson's Baker on the big potential of energy...

The NAVigator ·

2025/02/14

Jim Baker, Co-Head of Energy Infrastructure Strategies for Kayne Anderson Capital Advisors — President of the Kayne Anderson Energy Infrastructure Fund — discusses generating "excess free cash flow" that helped the midstream index generate gains of over 50 percent for fiscal 2024, an impressive gain that still actually lagged the total return of his fund. Moving forward — and despite a political climate that he says could be a double-edged sword in the infrastructure space — Baker sees gains

en

12:50

Liberty Street's Munafo on hunting for unicorns in AI

The NAVigator ·

2025/02/07

Christian Munafo, chief investment officer at Liberty Street Advisors — the manager of the Private Shares Fund — discusses how there are plenty of opportunities among late-stage venture companies working to make a splash in the artificial intelligence field, but how hard it is to find the transformational companies positioned to succeed. He discusses what he is looking for, and where he thinks the best prospects are, and also gives an update on initial-public offering and mergers-and-acquisition

en

11:44

CEF Advisors' Scott on discounts, wildfires,...

The NAVigator ·

2025/01/31

John Cole Scott, chief investment officer at Closed-End Fund Advisors — the chairman of the Active Investment Company Alliance — brings his data and portfolio-management methods back to The NAVigator to answer questions from listeners, covering concerns for California municipal bond funds in the wake of recent wildfires, how a steepening yield curve will impact discount levels, why investors shouldn't worry if closed-end funds don't appear to be keeping up with the stock market, and how historical

en

12:26

Abrdn's Laranjeiro: Tax-exempt yields are an...

The NAVigator ·

2025/01/24

Miguel Laranjeiro, investment director for municipal debt at Abrdn, says the appetite for muni-bond assets has been growing at a point when "tax-exempt yields look really attractive," with tax-equivalent yields running up to 6 percent for investment-grade bonds, an attractive option compared to corporate and other bond types. Laranjeiro notes that potential policy changes being discussed in Washington are likely to help muni-bond investors and issuers, and that the biggest concern — a repeal of the

en

14:43

First Eagle's Holzenthaler says credit picture will...

The NAVigator ·

2025/01/17

Larry Holzenthaler, Portfolio Manager for First Eagle Alternative Credit — part of the team running First Eagle Credit Opportunities fund — gives his outlook for credit markets in 2025, noting that after avoiding default troubles when rates were rising, it should be stronger now, with paper being particularly strong in private credit. Holzenthaler further explained why private credit benefits from the interval fund structure and discussed how liquidity and valuations are shaping up in private credit

en

12:08

CION's Gatto on infrastructure investing and why his...

The NAVigator ·

2025/01/10

Mark Gatto, Co-Founder and Co-Chief Executive Officer at CION Investment Group, says that the landscape for global infrastructure spending could be as high as $3 trillion annually worldwide, which is going to create an investment asset class that is consistent, that can overcome political challenges, and that has public and private investment opportunities with significant earning potential. CION recently announced that it was teaming with GCM Grosvenor on the new CION Grosvenor Infrastructure Fund,

en

13:18

2024 in Review: John Cole Scott on how his forecasts...

The NAVigator ·

2025/01/03

John Cole Scott — president of Closed-End Fund Advisors and the chairman of the Active Investment Company Alliance — revisits the forecasts he made for the closed-end fund business a year ago and to grade himself as a soothsayer. Having made his 2025 calls for closed-end funds a week ago, he puts some weight behind his prognostications by showing that, for the second year in a row, the data that's now in the books proved most of his predictions to be correct.

en

18:23

2025 outlook: John Cole Scott on the year ahead for...

The NAVigator ·

2024/12/27

John Cole Scott, President of Closed-End Fund Advisors, doesn't have a crystal ball, but he does have a mountain of data, and he digs through it to look at the stories he anticipates to be central to the closed-end fund landscape in the new year. Beyond looking at the big stories, John identifies five investments poised for breakout performances in the next 12 months.

en

11:39

Attorney Burdon on how Trump 2.0 may impact...

The NAVigator ·

2024/12/20

Ken Burdon, a partner in the registered funds practice at Simpson Thacher and Bartlett, discusses how the return of President Donald Trump might benefit closed-end funds. One key development he will be looking for is for the approval of new investment vehicles that give retail investors more access to private credit markets and other alternative assets that have been until now the domain of affluent investors and institutions. He notes that the first Trump Administration was generally in favor of

en

11:52

Nuveen's Chintapalli sees big opportunities in global...

The NAVigator ·

2024/12/13

Ravi Chintapalli, Client Portfolio Manager on the Global Fixed Income team at Nuveen, says that the bond market has seen a structural change in the market for below-investment grade or junk bonds. Chintapalli says investors think of junk bonds as it was in times like 2007, when nearly one-third of the paper was teetering on the edge of default; today, however, only 10 percent of the below-investment grade paper carries those same low ratings, and default risk is much lower than in the past. As a

en

16:08

NAVigator bonus: High yield trending up, tech down...

The NAVigator ·

2024/12/09

Michael Lowenberg of White Mountain Capital — Portfolio Manager for the Modern Capital Tactical Income fund (ticker MCTOX) discusses the factors he considers when picking closed-end funds for the portfolio. Lowenberg — whose fund buys both stocks and closed-end funds — likes the funds for their downside protection, and explains that he values the assets for the portfolio more than he values any discount, noting that he will actually buy funds trading at a premium if conditions are right. He

en

14:23

Hennion & Walsh's Mahn says rate cuts will push...

The NAVigator ·

2024/12/06

Kevin Mahn, President and Chief Investment Officer at Hennion & Walsh Asset Management — which runs the Smart Trust Unit Investment Trusts — says that he expects the Federal Reserve to cut rates over the next two years, which will drive investors to turn for income alternatives "since they can't find the 5 percent in the short-term CDs any more." That will drive investors toward business development companies and leveraged municipal closed-end funds, the latter benefitting from a reduced cost of

en

12:02

Black Friday discount shopping with John Cole Scott

The NAVigator ·

2024/11/29

The day after Thanksgiving is all about shopping at the biggest possible discounts, and John Cole Scott of Closed-End Fund Advisors puts a closed-end fund spin on it for the third straight year, culling through funds the way bargain shoppers look for the best deals. Scott — Chairman of the Active Investment Company Alliance — identifies three different closed-end funds and one business development company that, based on his firm's data, are particularly good bargains entering the holiday and

en

27:29

Double feature: Jim Cohen and Axel Merk from AICA's...

The NAVigator ·

2024/11/22

The NAVigator this week offers a taste of the action from the Active Investment Company Alliance's 2024 Fall Roundtable, which was held on November 13 in New York City. Individual investor Jim Cohen discusses how consumers in closed-end funds are caught between activist "whales" and fund sponsors, wanting to hold funds to account to narrow discounts and improve management, but sometimes coming away with lesser results. Axel Merk, President and Chief Investment Officer at Merk Investments — manager

en

12:17

Abrdn's Duitz, from AICA Roundtable, on...

The NAVigator ·

2024/11/15

Josh Duitz, Portfolio Manager for the Aberdeen Global Infrastructure Fund, took a break from the program at the Active Investment Company's Fall Roundtable in New York this week to discuss the state of infrastructure investing now that the presidential election has been decided and the policies of the second Trump Administration are becoming more clear. Duitz says that deregulation and lower corporate taxes will help certain freight, for example, balancing out initial concerns about how tariffs

en

12:37

XA's Hagen on the interval fund boom

The NAVigator ·

2024/11/08

Jared Hagen, Vice President at XA Investments, discusses this year's unprecedented growth in interval and tender-offer funds and how the number of funds in registration guarantees the trend will continue through 2025. Hagen talks about why the investment community has taken a shine to interval funds and covers how the expansion into the space has included some unique partnerships, with firms like KKR and Capital Group pairing up to bring new products to market.

en

12:04

AICA's Scott reviews 3Q's stellar results for...

The NAVigator ·

2024/11/01

John Cole Scott, President of Closed-End Fund Advisors and Chairman of the Active Investment Company Alliance, digs into his firm's data to break down a great three-month stretch for closed-end funds and business development companies. He says it was a period in which discounts narrowed dramatically and changed the opportunity set without it becoming overvalued or unattractive.

en

12:25

RiverNorth's Browne: Muni bond funds look cheap and...

The NAVigator ·

2024/10/25

Jonathan Browne, Senior Investment Analyst at RiverNorth Capital Management — and Portfolio Manager on five of the firm's municipal bond closed-end fund-of-funds — says that the headwinds that made for big struggles in the muni bond space have shifted to become tailwinds, creating opportunity despite the strong recent rebound among muni bond funds. Browne says that the rising-rate cycle had led to discounts reaching the 12 to 15 percent range — a level previously only reached during financial crises

en

11:54

Arrowmark's Staggs on an income-generating...

The NAVigator ·

2024/10/18

Dana Staggs, President of Arrowmark Financial Corp., talks about how regulatory capital relief securities — bank-generated floating-rate notes that are currently producing yields of up to 15 percent — can function as an alternative investment. He notes that due to their emergence during the financial crisis of 2008, regulatory capital relief securities can also function efficiently in low-rate environments. Staggs says he believes the economy has "a lot of room to absorb continued declines in

en

14:23

Digging into lesser-known interval fund picks with...

The NAVigator ·

2024/10/11

John Cole Scott, President of Closed-End Fund Advisors and the Chairman of the Active Investment Company Alliance, discusses interval funds and digs into the data on four funds that use the structure to create promising investment opportunities for investors. Plus, learn about the NAVigator Podcast's first-ever contest, in celebration of its fifth anniversary!

en

338 results

Similar Podcasts

TaxTalent.com The Golden Rule Podcast

Adam Golden

TaxTalent.com Podcast

Tony Santiago

Handelsblatt Crime - spannende Streitfälle der deutschen Wirtschaft

Ina Karabasz, Solveig Gode, Sönke Iwersen

Deffner und Zschäpitz – Der Wirtschafts-Talk von WELT

WELT

Black Box - La scatola nera della finanza

Guido Brera e Gian Luca Comandini -...